Recent articles worth a read:
- June 2024 Investor News
The Golden Age for Rich Renters
Business Insider investigates why wealthy Americans are opting not to buy a home. Read More…To Help St Petersburg Housing Affordability, Look to Older Buildings
A report commissioned by Preserve the Burg found that St Pete’s older buildings lend a crucial hand in providing affordable housing.Read More…Housing Markets on Florida’s West Coast Are Cooling
Redfin reports that the markets are cooling faster than anywhere else in the US. Read More…Landlords Left Unpaid, as Tenant Bankruptcies Rise
Commercial bankruptcies jumped 40% last year, leaving empty storefronts.Read More…Home Buyers Need to Earn $47k More Than in 2020
The income needed to afford a home is up 80% since 2020, while median income has risen 23%. Read More… - April 2024 Investor News
Gen Z Will Pay $23k More For Rent Than Millennials
A study by RentCafe determined that Tampa Bay Gen Z renters will have a higher rent burden, but earn more income. Read More…High Interest Rates Remain Obstacle to Development
A survey of Tampa Bay architects — often the first sector to begin work on development projects — determined that interest rates will slow RE development.Read More…Renting Will Remain Less Expensive Than Buying a Home
With average mortgage payments 38% higher than average apartment rents as of year-end 2023, many U.S. households continue to rent. Read More…Tampa Leads Housing Markets with Largest Price Reductions
An increase in inventory & uptick in price reductions has affected 34 out of the 50 largest metros.Read More…St. Pete Airbnb Sleuth Floods City with Complaints
Armed with reverse image search and aggrieved by St. Petersburg’s unaffordable housing market, Ms. Price has become a thorn in the side of Airbnb owners. Read More… - February 2024 Investor News
Tampa Rent Prices Fell Slightly In 2023
Median rent fell by 0.4 percent in 2023, according to a study by Apartment List. Read More…Meet The Typical Mover to Florida
Millennials and Gen Xers making $55,000 coming from New York and California.Read More…Renting A Home Still More Affordable Than Owning
Median rental rates still require a smaller portion of average wages than major home-ownership expenses. Read More…Meet One Of The Nation’s Epicenters For Institutional Homeownership: Tampa
Tampa is one of six markets that are home to more than 1/3 of all the nation’s institutionally owned single-family residences.Read More…5 Lessons Learned For Office Conversions
No more than 6.9% of office space in urban areas in the U.S. is likely to become apartments because of a range of factors. Read More… - November 2023 Investor News
Tampa, St Pete Renters Would Get Moderate Space in Home Buying
Renters in Tampa, making the switch from rent to monthly mortgage, could afford 991 square feet. St. Petersburg renters would get 895 square feet. Read More…Tampa Bay’s Housing Market is Slower, not Cheaper
Homes sold in 49 days on average this year, compared to 17 days last year. Read More…9 Out of 10 Maturing Office CMBS Loans Defaulted in September
Defaulting office loans in September totaled $672M, with $83.7M of maturing loans paid off.Read More…
How St Petersburg is Helping Residents Facing Eviction
St. Pete City Council funded $300,000 to the pro-bono Community Law Program.Read More…Florida Condo Market Braces for Impact of New Safety Law
Florida Senate Bill 4-D requires stricter inspections and prohibits condo associations from waiving maintenance reserve funds. Read More… - September 2023 Investor News
Rent Increases are Cooling in Tampa Bay
Rent has risen only 4.3% year-over-year, a reduction from the pandemic when rents increased more than 25% amid heavy population growth. Read More…As Insurance Costs Rise, Property Owners Consider Self-Insurance
This scenario could create trouble for the property owner and their tenants whose belongings get wiped away.Read More…High Mortgage Rates Lead to New-Build Boom
Sales of existing homes slid 19% from last year, while new home sales soared 24%. Read More…Why Are Rents Still Sky-High?
In short: a significant increase in household formation as roommates have broken apart.Read More…Rising Condo Fees Cause Chaos in Tampa Bay’s RE Market
A new law requires condo buildings to conduct engineering studies & set aside money for structural repairs before 2025. Read More…